Bird Construction announced it is acquiring Nason Contracting Group Ltd. for $12.8 million, plus $500,000 in closing costs.
Nason, a multi-discipline construction company operating throughout Western Canada, has focused on the municipal water and wastewater treatment market for more than 45 years, starting up operations in 1965.
The purchase will be funded through $8.3 million of existing working capital and $5 million of Bird Construction Inc. shares issued from its treasury.
According to recent statement from Bird, the acquisition “positions Bird and Nason to take advantage of water treatment work in the oil sands; grow Nason’s share of the municipal water and wastewater treatment market, including public-private partnership contracts.”
The deal has an expected closing date of mid to late January 2013.
Source: Bird Construction.